Beursonline.nl

voda 3 juli 2014 16:52

1

Mexico and China face US dumping duties on steel

The United States International Trade Commission recently decided to impose anti dumping duties on imports of prestressed concrete steel rail tie wire from Mexico and China.

The US Department of Commerce determined that Mexico and China were selling the product in the US at less than fair value. The duty on imports from Mexico will be 9.99% while the rate for imports from China will be between 31.4% and 35.3%.

Prestressed concrete steel rail tie wire is a high carbon steel wire specifically designed to be used in the construction of railroad ties. The complaint was filed by Insteel Wire Products Co, a division of Insteel Industries and Davis Wire Corporation.

Source – Tax News

voda 3 juli 2014 16:53

0

African steel strike costs ZAR 300 million per day

An employers body said that the wage strike by 220 000 steel and engineering workers, which began on July 1st 2014, will cost the economy more than ZAR 300 million or 0.014% of GDP a day.

The Steel and Engineering Industries Federation of SA said that the local chief executive of a major US car manufacturer had indicated that he was under pressure from his head office to close down South African operations and move to a country with a more stable labour environment.

Source - Fin24

voda 3 juli 2014 16:54

1

US auto sales hit level in June 2014

Reuters reported that US auto sales hit levels in June not seen since before the financial crisis that led to the bankruptcy of two American automakers, posting the best annualized figures in eight years.

Industry consultant Autodata Corp said that US June sales rose 1.2%, beating expectations of a decline of 3%, and the seasonally adjusted annualized sales rate hit 16.98 million vehicles, the highest since the July 2006.

General Motors Company bucked Wall Street's low expectations as well as negative publicity over a flood of safety recalls, reporting a 1% rise in US sales in June.

Mr John Krafcik, president of car shopping site TrueCar.com, said that consumers are suffering from recall "fatigue" and tuning out the onslaught of bad news from GM and other automakers.

Mr Krafcik said that GM's sales remain strong in part because consumers focus on brand names such as Chevrolet and Buick rather than the corporate name "General Motors."

Meanwhile, Chrysler Group, Toyota Motor Corp, Nissan Motor Co Ltd and Hyundai Motor Co also reported year-to-year increases. They all topped analysts' expectations, as did Ford Motor Co. Honda Motor Co Ltd sales barely missed expectations.

Source – Reuters

voda 3 juli 2014 16:57

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Vale may leave ICMM over Rio Tinto lawsuit

Mining reported that Vale is threatening to leave the International Council on Mining and Metals because Rio Tinto is suing the Brazilian miner.

The Wall Street Journal, relying on unnamed sources who are familiar with the situation, reports that Vale wrote a letter to the ICMM regarding its membership in the body.

Formed in 2001 the ICMM aims to to maximize the contribution of mining, minerals and metals to sustainable development. Top mining executives use ICMM to meet. In April Rio Tinto launched a lawsuit against Vale over control of Guinea's Simandou, a rich iron ore deposit.

The London based miner claims Vale used that highly confidential and proprietary information in its favour.

Simandou mine is one of the world's largest with estimated reserves of 2.4 billion tonnes of ore grading 65% iron metal.

Source - Mining

voda 3 juli 2014 16:59

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Baosteel in box seat for West Australia iron ore

The Australian reported that CHINA'S Baosteel is in the box seat to secure a massive iron ore holding in Western Australia after Mineral Resources failed to take control of explorer Aquila Resources.

AQUILA said that it had rejected mining contractor Mineral Resources' takeover offer and is still recommending its shareholders accept the offer from Baosteel and Aurizon.

Analysts said that the move paves the way for the Chinese state owned company to shore up new iron ore supply and reduce the risk of higher iron ore prices in the future.

Mineral Resources bought a near 13% stake in Aquila Resources last week and on Monday made a share swap takeover offer for the Pilbara explorer that valued it at USD 1.5 billion.

Aquila is already the target of a lower AUD 1.4 billion cash takeover bid from steelmaker Baosteel and rail operator Aurizon, as the companies involved look to kickstart the stalled AUD 10 billion West Pilbara Iron Ore Project.

Mr Tony Poli, Aquila chairman, who holds a 29% stake in the company intends to accept the Baosteel and Aurizon offer while other shareholders have until July 11th to accept it.

Mineral Resources plans to discuss its potential involvement in the construction of the mine, rail and port project, as well as the operation of the mines as it considers what to do with its stake in Aquila.

Mr Mathew Hodge analyst of Morningstar Resources said that Baosteel wanted control of Aquila. If you're a pessimist you would say they want to have something sizeable where they can add meaningful supply to the global market to reduce the cost of iron ore for China. The West Pilbara Iron Ore project would only be financed with Chinese money. That's key to the project and Baosteel's got a pretty strong hand.

Mr Hodge said that it appeared the WA state government was trying to breathe some life into the project with the release of the Anketell Port Master Plan in the Pilbara. There was not a huge amount of competition for Aquila and a stalemate would be the worst outcome for Mineral Resources.

Mr Michael McCarthy analyst of CMC Markets said that Mineral Resources had already had close dealings with the Aquila board and would try to maintain friendly relations in the hope of securing future contracts.

Source – The Australian

voda 3 juli 2014 17:01

0

ArcelorMittal completes the sale of ATIC stake

ArcelorMittal announced that it has completed the sale of ArcelorMittal's 78% stake in European port handling and logistics company ATIC Services SA to HES Beheer, having received all necessary regulatory approvals.

The transaction was completed for an agreed price of EUR 155.4 million. The sale is consistent with ArcelorMittal's stated strategy of selective divestment of non-core assets.

Source – Strategic Research Institute

voda 3 juli 2014 17:01

2

ArcelorMittal delivers first Calvert bound slab shipment from Mexican plant

ArcelorMittal delivered its first shipment of slab for the plant in Calvert, Alabama from its steel plant in Lazaro Cardenas, Mexico. The company recently acquired the plant through JV with Nippon Steel & Sumitomo Metal Corporation.

In a statement, the company said that this shipment of 48,751 tonnes (comprising 2,117 slabs) was released on May 12 in the MV Trident Legacy boat. The shipment included 14 different steel grades produced at the plant in Lazaro Cardenas, including 9,000 tonnes of API (American Petroleum Institute) grade and 20,000 tonnes of high strength grades. The shipment arrived last week to the port of Pinto Island in Alabama, to be transported to the plant in Calvert.

Mexico was chosen to be the supplier of the steel, not only for its proximity to Alabama but also by the high quality of its flat steel products. The Calvert plant has hot mills to transform these slabs in various products.

Mr Gustavo Campos director of ArcelorMittal Flat Carbon for Mexico said that "To be considered one of the suppliers of slabs for the plant in Calvert is a big plus for us, as it will give us more consistent production volumes and tranquility to maintain our high capacity utilization. It also bring benefits to the Group with the geographical location of both mills, as we can combine the technological capacity of Calvert and the level of experience of our plant in Lazaro Cardenas, positioning us as one of the strongest options for supplying steel for the energy market.”

Source - Visit www.steelorbis.com for more

Cash Is King! 3 juli 2014 21:09

0

Voda dank voor al je bijdrages en het plaatsen van de nieuwsartikelen! wordt erg gewaardeerd!

ttroo 4 juli 2014 10:00

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Voda, een AB: ArcelorMittal delivers first Calvert bound slab shipment from Mexican plant. Dat is goed nieuws. Qua operations Amerika gaat Mittal efficient te werk. Q1 de plant overgenomen. Net in Q3 en ze leveren al de slab.

voda 4 juli 2014 17:07

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ArcelorMittal wil scoren

NICO BAKKER | VRIJDAG 4 JULI 2014, 13:03 uur | 1575 keer gelezen |

ArcelorMittal was begin dit jaar een van de favorieten onder de actieve beleggers voor 2014. De koers stond in januari rond de 13 Euro en naderde een belangrijke Weerstand. In plaats van deze weerstand te slechten, viel de koers flink terug. Thans zijn er echter indicaties dat de koers weer flink kan gaan aantrekken.

Het is nog prematuur maar ik prensenteer een koopkans voor de offensief ingestelde belegger, speculant zo u wilt. Ik zal mijn Dashboard nader voor u duiden, u mag beslissen wat u gaat doen.

Einde downswing

De euforie op het Damrak is opperbest, dat heeft u zelf ook wel in de gaten. Echter, aan het koersverloop van Arcelor Mittal was dit niet te merken, er was immerse een dalende koersbeweging ofwel een downswing gaande. Echter, deze swing werd vorige week afgerond, niet geheel toevallig in de buurt van mijn sleepkabel, keurig in lijn met mijn Dashboard methodiek. Een swingteller op –9 is in meer dan 80% van de gevallen een indicatie dat er gebodemd gaat worden. Deze week wordt er een mooie witte candle gevormd, waarbij er wordt gestreefd naar een slotkoers boven de sleepkabel, hetgeen boven 11,25 het geval is. De swingteller springt hierbij op +1 als prelude voor een nieuwe upswing. De witte candle en de swingteller zijn voorlopig de enige twee positieve indicaties. De koers komt immers nog niet echt los van de sleepkabel en ook de RSI bevestigt de upswing nog niet. Volgende week opnieuw een witte candle zal hier verandering in brengen. In dat geval staan alle seinen op groen en is er meer Zekerheid voor hogere koersen. De koers kan aantrekken naar in eerste instantie 12,10, de top van april. Hierboven komt 13,40 in beeld en daarboven zijn de stieren helemaal los. Als de koers onder de groene Steunlijn op 10,53 zakt, vervallen de positieve vooruitzichten.

Anticiperen of reageren?

De koopkans is prematuur. Nog niet alle lampjes staan op groen voor een nieuwe upswing. De offensieve belegger heeft reeds genoeg aan deze informatie om (met een beperkte positie) in te stappen en zo te anticiperen op een koersstijging. Wat doet u? Stapt u reeds in of wacht u liever de candle van komende week af om zo meer bevestiging te krijgen in de wetenschap dat meer zekerheid een slechtere prijs met zich meebrengt?

Voor grafiek, zie link:

www.belegger.nl/column/2652513/arcelo...

voda 4 juli 2014 17:14

0

Domestic loss is International gain in Chinese steel market

Chinese mills have made up for the volume loss in domestic market by enhanced export volumes. Unending streak of demand shortage and supply glut has found passage into the international waters.

Chinese crude steel production has been on the rampage regardless of clamour for capacity rationalization and inventory reduction. January-May steel production has jumped by 4.9% touching 340.316 million tonne. Daily crude steel production in June of key steelmakers reporting to the CISA came to 1.8367 million tonnes in mid-Jun, rising by 4.1 thousand tonnes or 0.22% from the preceding ten days ago.

Steel inventories held by the said key steelmakers amounted to 15.113 million tonnes as of Jun 20, up by 583.1 thousand tonnes or 4.01% from that on Jun 10.

Chinese export volume has jumped by 33.6% in the Jan-May 2014 from 2013 y-o-y touching 34 million tonnes. It increased by 7.0% from the previous month and largely by 49.2% from the same month last year. Its export quantity at annualized rate in the calendar 2014 is on a pace of nearly 85 million tonnes. In May alone export touched an all-time high of 8 million tonne.

Global steel price primarily in the main trading centers of Black Sea, Europe, Middle East and South East Asia have remained subdued despite pick-up in economic activity in USA and Japan. European market though not sparkling has exhibited some stability during the summer. Price levels for long and flat products have not rallied perceptibly owing to adequate availability from China. Chinese mills under compulsion to liquidate volumes have been making aggressive offers in Middle East and Europe traditional bastions of CIS mills.

Source - Strategic Research Institute

voda 4 juli 2014 17:15

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UAE steel mills remain upbeat despite Ramadan on strong demand

Changing demand direction has brought some relief to the domestic mills in UAE. Healthy demand from the construction sector with growing investment in reality and infrastructure has found the domestic mills floundering on supplies.

It is learnt that price offers have gone up by USD 5 per tonne (AED20 per tonne) July from last month. In fact some of the mils are yet to declare new price levels despite good demand since they have not liquidated June booking.

Post Ramadan in August the demand and price levels are certainly going to look up with buyers returning to the market.

Source - Strategic Research Institute

voda 4 juli 2014 17:16

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Iron ore continue to recover despite threat from glut on supply side

The prices of iron ore continued recovery on Wednesday.

Iron ore for delivery in September on the Dalian Commodity Exchange rose as high as CNY 724 per tonne, its loftiest since May 27, before paring gains to close at CNY 712 up 0.4%.

According to data compiler Steel Index, Benchmark 62% grade iron ore for immediate delivery to China .IO62-CNI=SI rose 0.5% to USD 94.70 per tonne on Wednesday, rising for a second day.

Chinese mills are purchasing spot iron ore cargoes to replenish stockpiles and traders are taking positions hoping the market has already hit bottom, although brisk supply threatens to stall a rally in prices.

Traders said that appetite for spot seaborne iron ore shipments increased this week, with prices for Australian cargoes rising and prices for imported stocks at some Chinese ports also gaining.

Mr Cao Bo analyst at Jinrui Futures in Shenzhen said that "Steel mills in China need to buy iron ore because their stocks are low. But their demand is not enough and after this round of buying, prices will go down again. The increase in the rate of supply is higher than the rise in demand."

However aA trader in Shanghai said that "We're just selling cargoes from one mill to another. Some mills are still unloading some cargoes from their long term contracts to get their money back. If they need iron ore urgently they can buy from ports.'

Chinese steel mills have been cutting back on long term iron ore contracts in favour of cheaper spot cargoes, confident that beaten down prices are unlikely to rebound strongly amid plentiful supply.

Source - Reuters

voda 4 juli 2014 17:17

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BHP ramps up iron ore supplies to shut out high cost Chinese competition

SMH reported that BHP Billiton’s efforts to push high cost Chinese iron ore producers out of the market by increasing its own supply are showing first signs of success, with a number of domestic Chinese producers closing in the last few weeks.

Mr Mike Henry BHP’s president of marketing said that “High cost suppliers have been slow to react to the ramp up by the lower cost majors, including BHP, Rio Tinto, Fortescue Metals and Brazil’s Vale. It was important they shut in a reasonably efficient manner to avoid a compounding of supply.”

Mr Mike said that “As a lot of low cost supply came to market over six to 12 months, (the) response from high cost suppliers was slower than it has been historically. But over the past few weeks, you’re starting to see some of that high cost supply shut in. That’s one of the things that has helped buoy iron ore prices over the past week or so.”

Mr Henry tipped demand for iron ore will grow by 30 million tonne to 50 million tonnes this calendar year, well short of the 130 million tonne to 150 million tonnes of new low cost supply forecast to come onto market.

Mr Henry said that “China produces about 350 million tonnes of iron ore each year. High cost supply is anywhere between 100 and 150 million tonnes of that. There is quite a significant overhang of low-cost supply coming to market in the face of a slow but steady increase in demand.”

He said that “So it’s really important for the high cost suppliers to shut in a reasonably efficient manner in the face of that otherwise you just see a compounding of supply in the market. However, it was hard to put a figure on how much production was shutting in China.”

He added that “While the brunt of the impact of the ramp up will be felt by China, high cost producers in other regions, including Indonesia and the Philippines, would also be affected. The bulk of that compression in supply we believe is going to come out of China.”

Source - SMH

voda 4 juli 2014 17:17

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Severstal increases steel supplies to household appliance producers

Russian steelmaker Severstal has stated that it will supply 60,000 tonnes of steel to producers of household appliances and packaging under already signed contracts and 19,500 tonnes within contracts to be closed by the third quarter this year.

Thus, Severstal has broadened the practice of closure of long term agreements with enterprises in this economic sector. The volume of the half year agreements closed with producers of household appliances and packaging in 2013 was 38,000 tonnes.

Source - Visit www.steelorbis.com for more

voda 4 juli 2014 17:19

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Japan forecasts climb in crude steel output - METI

Reuters reported that Japan's crude steel output is expected to rise 0.9% in July to September from a year earlier on solid demand from shipbuilders and infrastructure projects.

The Ministry of Economy, Trade and Industry said that the increase follows an estimated 0.5% fall in the April to June quarter when a hike in sales tax crimped appetite for steel.

Mr Ryuichi Yamashita director of the ministry's iron and steel division said that "Manufacturing appetite is likely to hold steady as shipbuilder demand is seen recovering and automobile sales may get a boost in the summer bonus season. Construction demand will drop in reaction to rushed demand ahead of the sales tax hike and due to labour shortages and higher labour costs.”

Steel output for the July to September quarter is projected to rise to 27.96 million tonnes from 27.72 million tonnes a year earlier. That is up slightly from 27.95 million tonnes in the previous quarter.

Investors have been closely watching the impact on the economy of the sales tax hike that went into effect on April 1, with top officials at steelmakers saying that any effects had been mild.

Mr Hiroya Kawasaki president of Kobe Steel Limited said that "For April and May, the effect from the tax hike was smaller than expected. We still need to be cautious, but given an expected recovery of demand after July, Japan's overall crude steel output for this fiscal year may exceed the steel federation's prediction."

Japan's crude steel output rose to its highest in six years at 111 million tonnes in the year ended March 31 on robust construction demand, but the Japan Iron and Steel Federation has predicted it will weaken slightly this fiscal year due to the sales tax hike.

The ministry said that demand for steel products, including for export, is expected to fall 2.9% to 24.25 million tonnes in July to September compared with a year earlier. Exports are seen declining 4.2% to 8.21 million tonnes.

Source - Reuters

voda 4 juli 2014 17:20

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China's exports of seamless steel pipes increase in May

According to data released by China Customs, the country’s exports of seamless steel pipes totaled 511,690 tonnes in May, rising by 13% from a month ago and rising by 9% YoY.

In January to May period, China’s exports of seamless steel pipes amounted to 2.18 million tonnes falling by 2% YoY.

Meanwhile, the country’s production of seamless steel pipes totaled 12.72 million tonnes in the first five months of this year.

Source - www.yieh.com

voda 4 juli 2014 17:21

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Guelb el Aouj iron ore project has mine life of 200 year - Sphere Minerals

Australia based Sphere Minerals has revealed the results of a pre feasibility study carried out on its Guelb el Aouj iron ore project in Mauritania which found that the project has a mine life of 200 years.

The Guelb el Aouj project is a 50-50 JV between Sphere Minerals and Mauritanian State mining company, Societe Nationale Industrielle et Miniere. It is located near the iron ore mining town of Zouerate, 26 kilometers from the mainline railway which is owned by SNIM.

According to the study the project's lifetime could reach 200 years at a production capacity of 9.5 million tonnes of iron ore a year and could run for more than 40 years, if the company boosts its annual production to 45 MT. The project's life time could reach 200 years at a production capacity of 9.5 MT of iron ore a year.

The report has stated that the company would require an investment of around USD 866 million to implement its earlier plan of producing 15 MT a year towards the end of the second year of mining, when operating costs are expected to reach USD 5.48 per tonne.

The project site contains coarse grained magnetite-quartzite ore that can produce a 66% iron concentrate and it has an ore reserve of approximately 760 MT grading at 35% iron.

Source - Mining Technology

voda 4 juli 2014 18:25

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ArcelorMittal geeft voor EUR600 mln obligaties uit

AMSTERDAM (Dow Jones)--ArcelorMittal (MT.AE) heeft vrijdag met de uitgifte van obligaties EUR600 miljoen opgehaald, zo meldt de staalgigant vrijdag nabeurs.

Het betreft een uitgifte van obligaties met een looptijd tot 6 juli 2020.

De opbrengst van de uitgifte zal gebruikt worden voor algemene bedrijfsdoeleinden, meldt het concern in het begeleidend persbericht.

Het aandeel sloot vrijdag 0,1% lager op EUR11,28.

- Door Patrick Buis; Dow Jones Nieuwsdienst; +31 20 571 52 00; patrick.buis@wsj.com

[verwijderd] 5 juli 2014 09:05

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ArcelorMittal overweegt bod op Lucchini.

Gepubliceerd op 4 jul 2014 om 18:15

LONDEN (AFN) - Staalproducent ArcelorMittal overweegt een bod uit te brengen op zijn Italiaanse branchegenoot Lucchini. Dat meldde persbureau Reuters vrijdag op basis van een Italiaanse vakbond.

Volgens een woordvoerder van de bond voert ArcelorMittal een boekenonderzoek uit bij het Italiaanse bedrijf, dat in 2012 failliet werd verklaard. Sindsdien staat het bedrijf onder een speciaal regime, bedoeld om het verlies van banen bij grote bedrijven te voorkomen.

Volgens Italiaanse media wordt Lucchini mogelijk voor het symbolische van 1 euro verkocht, om te voorkomen dat er veel banen in de staalindustrie verloren gaan. Arcelor zou momenteel de enige partij zijn die ook interesse heeft in de productiefaciliteit in Piombino, waar zo'n 4000 mensen werken. Voor de andere onderdelen zou meer interesse bestaan.

Arcelor gaf tegen Reuters geen commentaar op het bericht.

Vertraagd	24 apr 2024 10:55
Koers	23,760
Verschil	+0,290 (+1,24%)
Hoog	23,950
Laag	23,550
Volume	582.484
Volume gemiddeld	2.462.006
Volume gisteren	3.800.729

23 apr	Mondiale staalproductie daalt toch weer
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